Published on 01/01/2026 – 14:47 GMT+1
•Updated
14:50
Rising tensions between the United States and Venezuela, including tighter sanctions linked to Venezuela’s oil trade, come as the country’s currency continues to slide, with the official cost of buying a US dollar rising by nearly 480% over the past 12 months.
Venezuela’s central bank on Wednesday set the official exchange rate at 301.37 bolívars to the US dollar, a rate in effect until January 2 — compared to a rate of 52.02 bolívars to the dollar at the start of 2025, highlighting the extent to which the local currency has lost value.
But the official rate is only part of the story. In reality, most Venezuelans and…
